It’s challenging enough to operate a business — especially a small one or if you’re just starting out — and maintaining a reliable, steady cash flow can mean the difference between sinking or swimming. Unpaid invoices throw a huge wrench into the works, especially if you depend on the incoming funds for payroll or rent. That’s why Fleet Flex Logistics has teamed up with professional factoring companies to provide our clients with factoring services that can make all the difference in the way they do business.
Truck factoring service — also known as freight factoring — allows carriers and owner-operators to turn unpaid invoices into cash. Essentially, a third-party freight factoring company for trucking will effectively buy those outstanding accounts receivable at an advance rate of usually 80% to 90% of the value and then collect on those unpaid invoices themselves.